Legislation

Search OpenLegislation Statutes

This entry was published on 2014-12-26
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 11-1.5
Payment of testamentary dispositions or distributive shares
Estates, Powers & Trusts (EPT) CHAPTER 17-B, ARTICLE 11, PART 1
§ 11-1.5 Payment of testamentary dispositions or distributive shares

(a) Subject to his or her duty to retain sufficient assets to pay
administration and reasonable funeral expenses, debts of the decedent
and all taxes for which the estate is liable, a personal representative
may, but, except as directed by will or court decree or order, shall not
be required to, pay any testamentary disposition or distributive share
before the completion of the publication of notice to creditors or, if
no such notice is published, before the expiration of seven months from
the time letters testamentary or of administration are granted, or, if
notice of the availability of genetic material of the decedent has been
given under section 4-1.3, before the birth of a genetic child who is
entitled to inherit from the decedent under section 4-1.3.

(b) Whenever a disposition is directed by will to be paid in advance
of such publication of notice or the expiration of such seven month
period or the birth of a genetic child entitled to inherit from the
decedent under section 4-1.3, the personal representative may require a
bond, conditioned as follows:

(1) That if debts of the decedent appear, and the assets of the estate
are insufficient to pay them or to pay other testamentary dispositions
entitled, under section 13-1.3, to payment equally with or prior to that
of the disposition paid in advance, the beneficiary to whom advance
payment was made will refund it, or the value thereof, together with
interest thereon and any costs incurred by reason of such payment, or
such ratable portion thereof, as is necessary to pay such debts or to
satisfy the rights, if any, of other beneficiaries under the will.

(2) That if the will, under which the disposition was paid, is denied
probate, on appeal or otherwise, such beneficiary will refund the entire
advance payment, together with interest and costs as described in
subparagraph (1), to the personal representative entitled thereto.

(c) If, after the expiration of seven months from the time letters are
granted or the birth of a genetic child entitled to inherit from the
decedent under section 4-1.3, as the case may be, the personal
representative refuses upon demand to pay a disposition or distributive
share, the person entitled thereto may maintain an appropriate action or
proceeding against such representative. But, for the purpose of
computing the time limited for its commencement, the cause of action
does not accrue until the personal representative's account is
judicially settled.